American Century Investments®
Quarterly Portfolio Holdings
Avantis® Core Fixed Income Fund
May 31, 2023
Avantis Core Fixed Income Fund - Schedule of Investments | ||
MAY 31, 2023 (UNAUDITED) |
Principal Amount ($)/ Shares | Value ($) | |||||||
CORPORATE BONDS — 60.6% | ||||||||
Aerospace and Defense — 1.5% | ||||||||
Boeing Co., 3.625%, 2/1/31 | 110,000 | 99,519 | ||||||
Boeing Co., 3.60%, 5/1/34 | 90,000 | 76,362 | ||||||
General Dynamics Corp., 3.625%, 4/1/30 | 184,000 | 172,990 | ||||||
Huntington Ingalls Industries, Inc., 3.48%, 12/1/27 | 30,000 | 27,756 | ||||||
Lockheed Martin Corp., 3.55%, 1/15/26 | 48,000 | 46,994 | ||||||
Lockheed Martin Corp., 1.85%, 6/15/30 | 175,000 | 146,923 | ||||||
Northrop Grumman Corp., 3.25%, 1/15/28 | 42,000 | 39,577 | ||||||
Textron, Inc., 4.00%, 3/15/26 | 30,000 | 29,231 | ||||||
639,352 | ||||||||
Air Freight and Logistics — 0.7% | ||||||||
United Parcel Service, Inc., 3.90%, 4/1/25 | 100,000 | 98,609 | ||||||
United Parcel Service, Inc., 3.40%, 3/15/29 | 200,000 | 190,769 | ||||||
289,378 | ||||||||
Automobile Components — 0.1% | ||||||||
BorgWarner, Inc., 2.65%, 7/1/27 | 48,000 | 43,972 | ||||||
Automobiles — 1.5% | ||||||||
American Honda Finance Corp., 1.00%, 9/10/25 | 60,000 | 55,071 | ||||||
American Honda Finance Corp., 2.35%, 1/8/27 | 48,000 | 44,459 | ||||||
American Honda Finance Corp., 3.50%, 2/15/28 | 150,000 | 143,649 | ||||||
General Motors Financial Co., Inc., 5.10%, 1/17/24 | 27,000 | 26,902 | ||||||
General Motors Financial Co., Inc., 4.00%, 1/15/25 | 65,000 | 63,405 | ||||||
Toyota Motor Credit Corp., 3.375%, 4/1/30 | 30,000 | 27,798 | ||||||
Toyota Motor Credit Corp., 1.65%, 1/10/31 | 38,000 | 30,747 | ||||||
Toyota Motor Credit Corp., 4.70%, 1/12/33 | 250,000 | 250,376 | ||||||
642,407 | ||||||||
Banks — 4.6% | ||||||||
African Development Bank, 0.875%, 7/22/26 | 100,000 | 90,287 | ||||||
Asian Development Bank, 0.25%, 10/6/23 | 25,000 | 24,557 | ||||||
Asian Development Bank, 0.375%, 6/11/24 | 100,000 | 95,332 | ||||||
Asian Development Bank, 2.375%, 8/10/27 | 16,000 | 15,050 | ||||||
Asian Infrastructure Investment Bank, 0.25%, 9/29/23 | 50,000 | 49,151 | ||||||
Asian Infrastructure Investment Bank, 2.25%, 5/16/24 | 100,000 | 97,201 | ||||||
Bank of Nova Scotia, 3.40%, 2/11/24 | 68,000 | 66,834 | ||||||
Council Of Europe Development Bank, 2.50%, 2/27/24 | 25,000 | 24,482 | ||||||
European Bank for Reconstruction & Development, 0.50%, 1/28/26 | 100,000 | 90,666 | ||||||
European Investment Bank, 1.375%, 3/15/27 | 150,000 | 136,118 | ||||||
Inter-American Development Bank, 2.625%, 1/16/24 | 25,000 | 24,594 | ||||||
Inter-American Development Bank, 0.625%, 7/15/25 | 150,000 | 138,948 | ||||||
International Bank for Reconstruction & Development, 2.50%, 3/19/24 | 50,000 | 48,942 | ||||||
International Bank for Reconstruction & Development, 0.50%, 10/28/25 | 75,000 | 68,646 | ||||||
International Bank for Reconstruction & Development, 0.75%, 11/24/27 | 60,000 | 52,216 | ||||||
International Finance Corp., 2.875%, 7/31/23 | 50,000 | 49,787 | ||||||
Kreditanstalt fuer Wiederaufbau, 0.25%, 3/8/24 | 250,000 | 240,540 | ||||||
Kreditanstalt fuer Wiederaufbau, 1.25%, 1/31/25 | 25,000 | 23,646 | ||||||
Oesterreichische Kontrollbank AG, 1.50%, 2/12/25 | 125,000 | 118,507 | ||||||
Royal Bank of Canada, 2.30%, 11/3/31 | 200,000 | 162,662 | ||||||
Sumitomo Mitsui Financial Group, Inc., 3.94%, 10/16/23 | 30,000 | 29,823 | ||||||
Wells Fargo & Co., 3.55%, 9/29/25 | 66,000 | 63,740 |
Westpac Banking Corp., 2.85%, 5/13/26 | 70,000 | 66,437 | ||||||
Westpac Banking Corp., 3.35%, 3/8/27 | 145,000 | 138,004 | ||||||
1,916,170 | ||||||||
Beverages — 2.1% | ||||||||
Anheuser-Busch InBev Finance, Inc., 4.70%, 2/1/36 | 250,000 | 245,035 | ||||||
Brown-Forman Corp., 4.75%, 4/15/33 | 500,000 | 501,570 | ||||||
Molson Coors Beverage Co., 3.00%, 7/15/26 | 73,000 | 68,777 | ||||||
PepsiCo, Inc., 3.00%, 10/15/27 | 73,000 | 69,511 | ||||||
884,893 | ||||||||
Biotechnology — 0.2% | ||||||||
Biogen, Inc., 2.25%, 5/1/30(1) | 78,000 | 65,359 | ||||||
Broadline Retail — 0.3% | ||||||||
Amazon.com, Inc., 5.20%, 12/3/25 | 30,000 | 30,441 | ||||||
Amazon.com, Inc., 4.80%, 12/5/34 | 100,000 | 102,369 | ||||||
132,810 | ||||||||
Building Products — 0.3% | ||||||||
Owens Corning, 3.875%, 6/1/30 | 150,000 | 138,288 | ||||||
Capital Markets — 3.5% | ||||||||
Bank of New York Mellon Corp., 3.85%, 4/26/29 | 250,000 | 236,811 | ||||||
BlackRock, Inc., 2.10%, 2/25/32 | 75,000 | 61,201 | ||||||
Brookfield Finance I U.K. PLC/Brookfield Finance, Inc., 2.34%, 1/30/32 | 125,000 | 98,928 | ||||||
Cboe Global Markets, Inc., 3.65%, 1/12/27 | 200,000 | 192,017 | ||||||
Charles Schwab Corp., 3.20%, 3/2/27 | 30,000 | 27,566 | ||||||
Charles Schwab Corp., 1.95%, 12/1/31 | 120,000 | 91,176 | ||||||
CME Group, Inc., 3.75%, 6/15/28 | 100,000 | 97,203 | ||||||
Goldman Sachs Group, Inc., 3.80%, 3/15/30 | 150,000 | 139,161 | ||||||
Intercontinental Exchange, Inc., 4.35%, 6/15/29 | 100,000 | 98,395 | ||||||
Intercontinental Exchange, Inc., 2.10%, 6/15/30 | 100,000 | 83,879 | ||||||
Morgan Stanley, 3.875%, 1/27/26 | 150,000 | 146,095 | ||||||
S&P Global, Inc., 2.95%, 1/22/27 | 25,000 | 23,744 | ||||||
S&P Global, Inc., 2.45%, 3/1/27 | 173,000 | 160,674 | ||||||
1,456,850 | ||||||||
Chemicals — 2.1% | ||||||||
Albemarle Corp., 5.05%, 6/1/32 | 250,000 | 241,943 | ||||||
CF Industries, Inc., 5.15%, 3/15/34 | 138,000 | 131,025 | ||||||
Dow Chemical Co., 4.25%, 10/1/34 | 100,000 | 91,307 | ||||||
EIDP, Inc., 2.30%, 7/15/30 | 30,000 | 25,391 | ||||||
Linde, Inc., 3.20%, 1/30/26 | 48,000 | 46,678 | ||||||
LYB International Finance III LLC, 5.625%, 5/15/33 | 150,000 | 149,968 | ||||||
Mosaic Co., 5.45%, 11/15/33 | 60,000 | 58,427 | ||||||
RPM International, Inc., 4.55%, 3/1/29 | 64,000 | 60,506 | ||||||
Westlake Corp., 3.60%, 8/15/26 | 42,000 | 40,009 | ||||||
Westlake Corp., 3.375%, 6/15/30 | 30,000 | 26,284 | ||||||
871,538 | ||||||||
Communications Equipment — 0.6% | ||||||||
Cisco Systems, Inc., 5.90%, 2/15/39 | 150,000 | 165,128 | ||||||
Motorola Solutions, Inc., 4.60%, 5/23/29 | 100,000 | 97,893 | ||||||
263,021 | ||||||||
Construction and Engineering — 0.1% | ||||||||
Quanta Services, Inc., 2.90%, 10/1/30 | 30,000 | 25,475 | ||||||
Consumer Staples Distribution & Retail — 1.0% | ||||||||
Costco Wholesale Corp., 3.00%, 5/18/27 | 125,000 | 119,950 | ||||||
Dollar Tree, Inc., 4.00%, 5/15/25 | 65,000 | 63,562 | ||||||
Dollar Tree, Inc., 4.20%, 5/15/28 | 30,000 | 28,857 | ||||||
Sysco Corp., 5.375%, 9/21/35 | 125,000 | 126,195 |
Target Corp., 2.65%, 9/15/30 | 42,000 | 36,984 | ||||||
Walgreens Boots Alliance, Inc., 3.45%, 6/1/26 | 5,000 | 4,747 | ||||||
Walgreens Boots Alliance, Inc., 3.20%, 4/15/30 | 30,000 | 26,005 | ||||||
406,300 | ||||||||
Diversified Consumer Services — 0.2% | ||||||||
Novant Health, Inc., 2.64%, 11/1/36 | 100,000 | 76,566 | ||||||
Diversified REITs — 1.5% | ||||||||
Boston Properties LP, 3.65%, 2/1/26 | 50,000 | 46,336 | ||||||
ERP Operating LP, 3.25%, 8/1/27 | 90,000 | 83,624 | ||||||
Essex Portfolio LP, 4.00%, 3/1/29 | 150,000 | 140,593 | ||||||
Kilroy Realty LP, 4.75%, 12/15/28 | 100,000 | 87,920 | ||||||
Kilroy Realty LP, 2.50%, 11/15/32 | 29,000 | 19,413 | ||||||
Prologis LP, 2.25%, 4/15/30 | 115,000 | 97,963 | ||||||
Simon Property Group LP, 2.20%, 2/1/31 | 200,000 | 162,224 | ||||||
638,073 | ||||||||
Diversified Telecommunication Services — 0.6% | ||||||||
AT&T, Inc., 2.75%, 6/1/31 | 120,000 | 101,555 | ||||||
Verizon Communications, Inc., 5.85%, 9/15/35 | 125,000 | 129,265 | ||||||
230,820 | ||||||||
Electric Utilities — 4.9% | ||||||||
Baltimore Gas & Electric Co., 2.25%, 6/15/31 | 140,000 | 117,128 | ||||||
Berkshire Hathaway Energy Co., 4.05%, 4/15/25 | 12,000 | 11,813 | ||||||
CenterPoint Energy Houston Electric LLC, 6.95%, 3/15/33(1) | 120,000 | 138,261 | ||||||
DTE Electric Co., Series A, 1.90%, 4/1/28 | 150,000 | 133,122 | ||||||
DTE Electric Co., Series C, 2.625%, 3/1/31 | 66,000 | 56,630 | ||||||
Duke Energy Carolinas LLC, 6.10%, 6/1/37 | 100,000 | 106,033 | ||||||
Duke Energy Carolinas LLC, Series A, 6.00%, 12/1/28 | 30,000 | 31,843 | ||||||
Duke Energy Corp., 4.50%, 8/15/32 | 125,000 | 118,233 | ||||||
Edison International, 3.55%, 11/15/24 | 65,000 | 63,074 | ||||||
Edison International, 5.75%, 6/15/27 | 250,000 | 252,192 | ||||||
Entergy Arkansas LLC, 4.00%, 6/1/28 | 32,000 | 30,889 | ||||||
Entergy Louisiana LLC, 3.05%, 6/1/31 | 33,000 | 28,906 | ||||||
Entergy Mississippi LLC, 2.85%, 6/1/28 | 160,000 | 145,970 | ||||||
Florida Power & Light Co., 5.05%, 4/1/28 | 100,000 | 102,292 | ||||||
MidAmerican Energy Co., 6.75%, 12/30/31 | 70,000 | 79,658 | ||||||
PacifiCorp, 2.70%, 9/15/30 | 54,000 | 47,329 | ||||||
PacifiCorp, 6.25%, 10/15/37 | 150,000 | 163,083 | ||||||
Public Service Co. of New Hampshire, 2.20%, 6/15/31 | 140,000 | 117,166 | ||||||
Public Service Electric & Gas Co., 3.00%, 5/15/27 | 36,000 | 34,020 | ||||||
Puget Energy, Inc., 4.10%, 6/15/30 | 66,000 | 60,890 | ||||||
Southern Co., 3.70%, 4/30/30 | 150,000 | 138,194 | ||||||
Union Electric Co., 2.95%, 3/15/30 | 68,000 | 60,851 | ||||||
Wisconsin Power & Light Co., 3.00%, 7/1/29 | 24,000 | 21,728 | ||||||
2,059,305 | ||||||||
Electronic Equipment, Instruments and Components — 0.2% | ||||||||
Flex Ltd., 3.75%, 2/1/26 | 30,000 | 28,616 | ||||||
Trimble, Inc., 4.90%, 6/15/28 | 62,000 | 61,270 | ||||||
89,886 | ||||||||
Energy Equipment and Services — 1.1% | ||||||||
Baker Hughes Holdings LLC, 5.125%, 9/15/40 | 175,000 | 166,041 | ||||||
Baker Hughes Holdings LLC / Baker Hughes Co.-Obligor, Inc., 3.34%, 12/15/27 | 30,000 | 28,098 | ||||||
Halliburton Co., 2.92%, 3/1/30 | 175,000 | 154,982 | ||||||
Schlumberger Finance Canada Ltd., 1.40%, 9/17/25 | 70,000 | 64,911 | ||||||
Schlumberger Investment SA, 2.65%, 6/26/30 | 66,000 | 58,210 | ||||||
472,242 | ||||||||
Financial Services — 0.5% | ||||||||
Global Payments, Inc., 4.95%, 8/15/27 | 100,000 | 98,457 | ||||||
Global Payments, Inc., 4.45%, 6/1/28 | 100,000 | 95,004 | ||||||
193,461 | ||||||||
Food Products — 0.8% | ||||||||
Archer-Daniels-Midland Co., 3.25%, 3/27/30 | 66,000 | 61,226 | ||||||
Bunge Ltd. Finance Corp., 3.25%, 8/15/26 | 73,000 | 69,027 | ||||||
Bunge Ltd. Finance Corp., 2.75%, 5/14/31 | 100,000 | 83,856 | ||||||
Campbell Soup Co., 4.15%, 3/15/28 | 64,000 | 62,201 | ||||||
Conagra Brands, Inc., 4.85%, 11/1/28 | 75,000 | 73,913 | ||||||
350,223 | ||||||||
Gas Utilities — 0.1% | ||||||||
Southern California Gas Co., 2.55%, 2/1/30 | 35,000 | 30,376 | ||||||
Ground Transportation — 1.6% | ||||||||
Canadian National Railway Co., 6.375%, 11/15/37 | 200,000 | 226,743 | ||||||
CSX Corp., 6.15%, 5/1/37 | 75,000 | 81,485 | ||||||
Union Pacific Corp., 3.70%, 3/1/29 | 200,000 | 192,854 | ||||||
Union Pacific Corp., 3.375%, 2/1/35 | 175,000 | 151,393 | ||||||
652,475 | ||||||||
Health Care Equipment and Supplies — 0.1% | ||||||||
Edwards Lifesciences Corp., 4.30%, 6/15/28 | 26,000 | 25,622 | ||||||
Medtronic, Inc., 4.375%, 3/15/35 | 30,000 | 29,110 | ||||||
54,732 | ||||||||
Health Care Providers and Services — 1.9% | ||||||||
Adventist Health System, 2.95%, 3/1/29 | 67,000 | 59,409 | ||||||
Cardinal Health, Inc., 3.08%, 6/15/24 | 30,000 | 29,258 | ||||||
Cigna Group, 5.40%, 3/15/33 | 100,000 | 102,047 | ||||||
CVS Health Corp., 5.25%, 2/21/33 | 50,000 | 50,152 | ||||||
CVS Health Corp., 4.875%, 7/20/35 | 70,000 | 66,741 | ||||||
HCA, Inc., 3.625%, 3/15/32(2) | 200,000 | 174,412 | ||||||
Humana, Inc., 2.15%, 2/3/32 | 200,000 | 159,191 | ||||||
UnitedHealth Group, Inc., 3.45%, 1/15/27 | 24,000 | 23,222 | ||||||
UnitedHealth Group, Inc., 5.35%, 2/15/33 | 80,000 | 83,438 | ||||||
UnitedHealth Group, Inc., 4.625%, 7/15/35 | 24,000 | 23,564 | ||||||
771,434 | ||||||||
Hotels, Restaurants and Leisure — 0.2% | ||||||||
Marriott International, Inc., 4.625%, 6/15/30 | 75,000 | 71,956 | ||||||
Household Durables — 0.9% | ||||||||
DR Horton, Inc., 1.40%, 10/15/27(1) | 150,000 | 129,901 | ||||||
Whirlpool Corp., 5.50%, 3/1/33 | 250,000 | 250,307 | ||||||
380,208 | ||||||||
Industrial Conglomerates — 0.4% | ||||||||
3M Co., 3.375%, 3/1/29 | 100,000 | 92,083 | ||||||
3M Co., 5.70%, 3/15/37 | 18,000 | 18,504 | ||||||
Honeywell International, Inc., 1.75%, 9/1/31 | 50,000 | 40,513 | ||||||
Honeywell International, Inc., 5.70%, 3/15/36 | 24,000 | 25,887 | ||||||
176,987 | ||||||||
Insurance — 1.8% | ||||||||
Aflac, Inc., 3.60%, 4/1/30 | 75,000 | 69,399 | ||||||
Chubb INA Holdings, Inc., 1.375%, 9/15/30 | 36,000 | 28,702 | ||||||
Chubb INA Holdings, Inc., 6.70%, 5/15/36 | 75,000 | 85,322 | ||||||
Hartford Financial Services Group, Inc., 2.80%, 8/19/29 | 50,000 | 43,610 | ||||||
MetLife, Inc., 4.55%, 3/23/30 | 165,000 | 162,710 | ||||||
Prudential Funding Asia PLC, 3.625%, 3/24/32 | 250,000 | 226,301 | ||||||
Willis North America, Inc., 4.50%, 9/15/28 | 150,000 | 143,101 | ||||||
759,145 | ||||||||
IT Services — 0.6% | ||||||||
International Business Machines Corp., 3.50%, 5/15/29 | 100,000 | 93,499 | ||||||
VeriSign, Inc., 2.70%, 6/15/31(1) | 200,000 | 166,761 | ||||||
260,260 | ||||||||
Leisure Products — 0.2% | ||||||||
Hasbro, Inc., 3.50%, 9/15/27 | 67,000 | 63,084 | ||||||
Machinery — 1.3% | ||||||||
ABB Finance USA, Inc., 3.80%, 4/3/28 | 64,000 | 62,870 | ||||||
Caterpillar Financial Services Corp., 1.10%, 9/14/27 | 30,000 | 26,031 | ||||||
John Deere Capital Corp., 3.05%, 1/6/28 | 102,000 | 96,639 | ||||||
Otis Worldwide Corp., 2.57%, 2/15/30 | 150,000 | 129,829 | ||||||
Stanley Black & Decker, Inc., 6.00%, 3/6/28 | 200,000 | 204,858 | ||||||
520,227 | ||||||||
Media — 1.1% | ||||||||
Comcast Corp., 4.25%, 10/15/30 | 210,000 | 203,647 | ||||||
Fox Corp., 3.05%, 4/7/25 | 130,000 | 124,828 | ||||||
Fox Corp., 5.48%, 1/25/39 | 150,000 | 139,054 | ||||||
467,529 | ||||||||
Metals and Mining — 0.6% | ||||||||
Barrick Gold Corp., 6.45%, 10/15/35 | 100,000 | 107,228 | ||||||
Kinross Gold Corp., 4.50%, 7/15/27 | 42,000 | 40,966 | ||||||
Steel Dynamics, Inc., 3.25%, 1/15/31 | 100,000 | 86,950 | ||||||
235,144 | ||||||||
Multi-Utilities — 0.8% | ||||||||
Consumers Energy Co., 4.625%, 5/15/33 | 200,000 | 197,342 | ||||||
Dominion Energy, Inc., 5.95%, 6/15/35 | 100,000 | 104,234 | ||||||
San Diego Gas & Electric Co., 1.70%, 10/1/30 | 37,000 | 29,909 | ||||||
331,485 | ||||||||
Office REITs — 0.1% | ||||||||
Alexandria Real Estate Equities, Inc., 3.375%, 8/15/31 | 50,000 | 43,261 | ||||||
Oil, Gas and Consumable Fuels — 5.4% | ||||||||
Boardwalk Pipelines LP, 4.80%, 5/3/29 | 50,000 | 48,411 | ||||||
BP Capital Markets America, Inc., 3.12%, 5/4/26 | 250,000 | 239,858 | ||||||
Burlington Resources LLC, 7.40%, 12/1/31 | 18,000 | 20,941 | ||||||
Canadian Natural Resources Ltd., 2.95%, 7/15/30 | 29,000 | 25,098 | ||||||
Canadian Natural Resources Ltd., 5.85%, 2/1/35 | 60,000 | 58,728 | ||||||
Cheniere Corpus Christi Holdings LLC, 5.125%, 6/30/27 | 63,000 | 62,514 | ||||||
Chevron Corp., 1.55%, 5/11/25 | 42,000 | 39,629 | ||||||
Chevron USA, Inc., 3.85%, 1/15/28 | 26,000 | 25,657 | ||||||
Chevron USA, Inc., 6.00%, 3/1/41 | 248,000 | 272,674 | ||||||
ConocoPhillips Co., 6.95%, 4/15/29 | 85,000 | 94,612 | ||||||
Devon Energy Corp., 4.50%, 1/15/30 | 133,000 | 125,169 | ||||||
Diamondback Energy, Inc., 6.25%, 3/15/33 | 175,000 | 181,803 | ||||||
Enbridge, Inc., 3.125%, 11/15/29 | 42,000 | 37,656 | ||||||
Energy Transfer LP, 6.50%, 2/1/42 | 75,000 | 74,898 | ||||||
Enterprise Products Operating LLC, 3.70%, 2/15/26 | 18,000 | 17,536 | ||||||
EOG Resources, Inc., 4.15%, 1/15/26 | 200,000 | 197,876 | ||||||
Equinor ASA, 2.875%, 4/6/25 | 44,000 | 42,523 | ||||||
Equinor ASA, 1.75%, 1/22/26 | 70,000 | 65,062 | ||||||
Exxon Mobil Corp., 2.44%, 8/16/29 | 54,000 | 48,624 | ||||||
Hess Corp., 5.60%, 2/15/41 | 150,000 | 141,491 | ||||||
Kinder Morgan, Inc., 5.30%, 12/1/34 | 18,000 | 17,287 | ||||||
Marathon Petroleum Corp., 4.70%, 5/1/25 | 24,000 | 23,701 | ||||||
MPLX LP, 2.65%, 8/15/30 | 30,000 | 25,129 | ||||||
ONEOK, Inc., 6.35%, 1/15/31 | 35,000 | 36,102 |
ONEOK, Inc., 6.00%, 6/15/35 | 60,000 | 58,436 | ||||||
Phillips 66, 3.90%, 3/15/28 | 24,000 | 23,037 | ||||||
Pioneer Natural Resources Co., 1.90%, 8/15/30 | 30,000 | 24,391 | ||||||
Sabine Pass Liquefaction LLC, 4.50%, 5/15/30 | 68,000 | 64,334 | ||||||
Shell International Finance BV, 3.25%, 5/11/25 | 18,000 | 17,543 | ||||||
Shell International Finance BV, 2.50%, 9/12/26 | 66,000 | 62,111 | ||||||
Shell International Finance BV, 4.125%, 5/11/35 | 12,000 | 11,153 | ||||||
Valero Energy Corp., 6.625%, 6/15/37 | 30,000 | 32,317 | ||||||
Valero Energy Partners LP, 4.50%, 3/15/28 | 26,000 | 25,414 | ||||||
Williams Cos., Inc., 4.00%, 9/15/25 | 18,000 | 17,507 | ||||||
2,259,222 | ||||||||
Paper and Forest Products — 0.3% | ||||||||
WestRock MWV LLC, 7.95%, 2/15/31 | 100,000 | 114,010 | ||||||
Passenger Airlines — 0.3% | ||||||||
Southwest Airlines Co., 5.125%, 6/15/27 | 102,000 | 101,586 | ||||||
Southwest Airlines Co., 2.625%, 2/10/30 | 37,000 | 31,257 | ||||||
132,843 | ||||||||
Personal Care Products — 0.1% | ||||||||
Estee Lauder Cos., Inc., 1.95%, 3/15/31 | 57,000 | 47,284 | ||||||
Pharmaceuticals — 3.2% | ||||||||
Astrazeneca Finance LLC, 2.25%, 5/28/31 | 50,000 | 42,535 | ||||||
AstraZeneca PLC, 0.70%, 4/8/26 | 140,000 | 126,080 | ||||||
Bristol-Myers Squibb Co., 1.45%, 11/13/30 | 46,000 | 37,138 | ||||||
Bristol-Myers Squibb Co., 2.95%, 3/15/32 | 225,000 | 199,051 | ||||||
GlaxoSmithKline Capital, Inc., 6.375%, 5/15/38 | 236,000 | 271,067 | ||||||
Johnson & Johnson, 0.55%, 9/1/25 | 24,000 | 22,079 | ||||||
Johnson & Johnson, 2.90%, 1/15/28 | 54,000 | 51,414 | ||||||
Merck & Co., Inc., 2.15%, 12/10/31 | 200,000 | 167,662 | ||||||
Novartis Capital Corp., 3.10%, 5/17/27 | 66,000 | 63,416 | ||||||
Royalty Pharma PLC, 2.20%, 9/2/30 | 73,000 | 58,942 | ||||||
Sanofi, 3.625%, 6/19/28 | 65,000 | 63,478 | ||||||
Wyeth LLC, 5.95%, 4/1/37 | 200,000 | 220,107 | ||||||
1,322,969 | ||||||||
Residential REITs — 1.1% | ||||||||
American Homes 4 Rent LP, 4.25%, 2/15/28 | 66,000 | 61,973 | ||||||
AvalonBay Communities, Inc., 3.20%, 1/15/28 | 24,000 | 22,263 | ||||||
AvalonBay Communities, Inc., 3.30%, 6/1/29 | 75,000 | 68,298 | ||||||
Camden Property Trust, 3.15%, 7/1/29 | 85,000 | 75,822 | ||||||
UDR, Inc., 3.20%, 1/15/30 | 264,000 | 232,964 | ||||||
461,320 | ||||||||
Retail REITs — 0.5% | ||||||||
Kimco Realty OP LLC, 4.60%, 2/1/33 | 175,000 | 162,174 | ||||||
Realty Income Corp., 3.65%, 1/15/28(1) | 36,000 | 33,910 | ||||||
196,084 | ||||||||
Semiconductors and Semiconductor Equipment — 3.0% | ||||||||
Applied Materials, Inc., 5.10%, 10/1/35 | 150,000 | 153,422 | ||||||
Broadcom, Inc., 4.30%, 11/15/32 | 110,000 | 100,075 | ||||||
Broadcom, Inc., 3.47%, 4/15/34(2) | 90,000 | 73,469 | ||||||
Intel Corp., 3.90%, 3/25/30 | 60,000 | 56,867 | ||||||
Intel Corp., 5.20%, 2/10/33 | 250,000 | 251,635 | ||||||
Lam Research Corp., 4.00%, 3/15/29 | 125,000 | 121,737 | ||||||
Marvell Technology, Inc., 2.45%, 4/15/28 | 150,000 | 130,994 | ||||||
Micron Technology, Inc., 4.66%, 2/15/30 | 150,000 | 141,798 | ||||||
NXP BV / NXP Funding LLC, 5.55%, 12/1/28 | 24,000 | 24,177 | ||||||
NXP BV / NXP Funding LLC / NXP USA, Inc., 5.00%, 1/15/33 | 120,000 | 115,701 |
QUALCOMM, Inc., 3.25%, 5/20/27 | 66,000 | 63,365 | ||||||
1,233,240 | ||||||||
Software — 1.4% | ||||||||
Autodesk, Inc., 2.85%, 1/15/30 | 150,000 | 132,871 | ||||||
Oracle Corp., 3.25%, 5/15/30 | 75,000 | 66,818 | ||||||
Oracle Corp., 6.50%, 4/15/38 | 125,000 | 133,689 | ||||||
Roper Technologies, Inc., 1.40%, 9/15/27 | 73,000 | 63,335 | ||||||
Salesforce, Inc., 1.95%, 7/15/31 | 50,000 | 41,482 | ||||||
VMware, Inc., 1.80%, 8/15/28 | 100,000 | 84,189 | ||||||
VMware, Inc., 4.70%, 5/15/30 | 60,000 | 57,085 | ||||||
579,469 | ||||||||
Specialized REITs — 0.9% | ||||||||
American Tower Corp., 3.60%, 1/15/28 | 66,000 | 61,575 | ||||||
American Tower Corp., 2.90%, 1/15/30 | 100,000 | 87,005 | ||||||
Crown Castle, Inc., 3.30%, 7/1/30 | 150,000 | 132,604 | ||||||
Equinix, Inc., 2.00%, 5/15/28 | 125,000 | 106,209 | ||||||
387,393 | ||||||||
Specialty Retail — 1.3% | ||||||||
Advance Auto Parts, Inc., 3.50%, 3/15/32 | 175,000 | 148,629 | ||||||
AutoNation, Inc., 3.80%, 11/15/27 | 40,000 | 36,710 | ||||||
AutoZone, Inc., 4.00%, 4/15/30 | 150,000 | 139,950 | ||||||
Home Depot, Inc., 2.80%, 9/14/27 | 66,000 | 62,029 | ||||||
Home Depot, Inc., 2.70%, 4/15/30 | 150,000 | 134,239 | ||||||
TJX Cos., Inc., 1.15%, 5/15/28 | 30,000 | 25,921 | ||||||
547,478 | ||||||||
Technology Hardware, Storage and Peripherals — 1.7% | ||||||||
Apple, Inc., 3.20%, 5/11/27 | 12,000 | 11,596 | ||||||
Apple, Inc., 2.20%, 9/11/29 | 18,000 | 16,068 | ||||||
Apple, Inc., 1.65%, 5/11/30 | 48,000 | 40,900 | ||||||
Apple, Inc., 1.70%, 8/5/31(1) | 100,000 | 83,223 | ||||||
Apple, Inc., 4.50%, 2/23/36 | 150,000 | 153,726 | ||||||
Dell International LLC / EMC Corp., 5.75%, 2/1/33 | 150,000 | 150,185 | ||||||
HP, Inc., 3.40%, 6/17/30 | 42,000 | 36,779 | ||||||
HP, Inc., 4.20%, 4/15/32 | 250,000 | 223,698 | ||||||
716,175 | ||||||||
Textiles, Apparel and Luxury Goods — 0.3% | ||||||||
NIKE, Inc., 2.85%, 3/27/30 | 150,000 | 136,919 | ||||||
Transportation Infrastructure — 0.1% | ||||||||
FedEx Corp. Pass-Through Trust, Series 2020-1, Class AA, 1.875%, 8/20/35 | 63,241 | 52,185 | ||||||
Wireless Telecommunication Services — 0.9% | ||||||||
T-Mobile USA, Inc., 3.875%, 4/15/30 | 100,000 | 92,813 | ||||||
T-Mobile USA, Inc., 5.20%, 1/15/33 | 80,000 | 80,074 | ||||||
Vodafone Group Plc, 6.15%, 2/27/37 | 180,000 | 187,665 | ||||||
360,552 | ||||||||
TOTAL CORPORATE BONDS (Cost $26,752,576) | 25,251,835 | |||||||
U.S. TREASURY SECURITIES AND EQUIVALENTS — 24.9% | ||||||||
Israel Government AID Bond, 5.50%, 9/18/23 | 25,000 | 24,998 | ||||||
U.S. Treasury Bonds, 7.625%, 2/15/25 | 245,000 | 257,307 | ||||||
U.S. Treasury Bonds, 6.125%, 11/15/27 | 250,000 | 273,418 | ||||||
U.S. Treasury Bonds, 4.75%, 2/15/37 | 150,000 | 167,997 | ||||||
U.S. Treasury Bonds, 2.375%, 2/15/42 | 650,000 | 508,701 | ||||||
U.S. Treasury Bonds, 3.00%, 5/15/42 | 500,000 | 432,891 | ||||||
U.S. Treasury Bonds, 2.75%, 8/15/42 | 500,000 | 414,922 | ||||||
U.S. Treasury Bonds, 2.75%, 11/15/42 | 515,000 | 426,193 |
U.S. Treasury Bonds, 3.125%, 2/15/43 | 500,000 | 439,102 | ||||||
U.S. Treasury Bonds, 2.875%, 5/15/43 | 700,000 | 589,613 | ||||||
U.S. Treasury Bonds, 3.125%, 8/15/44 | 250,000 | 217,607 | ||||||
U.S. Treasury Bonds, 2.875%, 8/15/45 | 150,000 | 124,389 | ||||||
U.S. Treasury Notes, 0.125%, 8/31/23 | 400,000 | 394,771 | ||||||
U.S. Treasury Notes, 0.25%, 9/30/23 | 500,000 | 491,590 | ||||||
U.S. Treasury Notes, 0.75%, 12/31/23 | 600,000 | 584,337 | ||||||
U.S. Treasury Notes, 0.125%, 1/15/24 | 450,000 | 435,722 | ||||||
U.S. Treasury Notes, 0.875%, 1/31/24 | 500,000 | 485,621 | ||||||
U.S. Treasury Notes, 2.125%, 2/29/24 | 340,000 | 332,136 | ||||||
U.S. Treasury Notes, 2.25%, 3/31/24 | 400,000 | 390,250 | ||||||
U.S. Treasury Notes, 0.375%, 4/15/24 | 450,000 | 431,386 | ||||||
U.S. Treasury Notes, 2.50%, 5/31/24 | 175,000 | 170,401 | ||||||
U.S. Treasury Notes, 0.375%, 8/15/24 | 375,000 | 354,968 | ||||||
U.S. Treasury Notes, 1.75%, 12/31/24 | 180,000 | 171,999 | ||||||
U.S. Treasury Notes, 2.50%, 1/31/25 | 355,000 | 342,922 | ||||||
U.S. Treasury Notes, 1.50%, 2/15/25(3) | 400,000 | 379,836 | ||||||
U.S. Treasury Notes, 2.75%, 2/28/25 | 375,000 | 363,713 | ||||||
U.S. Treasury Notes, 0.50%, 3/31/25 | 200,000 | 186,070 | ||||||
U.S. Treasury Notes, 2.75%, 8/31/25 | 150,000 | 145,116 | ||||||
U.S. Treasury Notes, 0.375%, 1/31/26 | 105,000 | 95,199 | ||||||
U.S. Treasury Notes, 1.50%, 8/15/26 | 135,000 | 124,883 | ||||||
U.S. Treasury Notes, 2.25%, 8/15/27 | 125,000 | 117,224 | ||||||
U.S. Treasury Notes, 1.25%, 3/31/28 | 250,000 | 221,934 | ||||||
U.S. Treasury Notes, 2.375%, 5/15/29 | 315,000 | 291,861 | ||||||
TOTAL U.S. TREASURY SECURITIES AND EQUIVALENTS (Cost $10,728,270) | 10,389,077 | |||||||
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 19.8% | ||||||||
Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 19.8% | ||||||||
GNMA, 4.00%, TBA | 800,000 | 760,375 | ||||||
GNMA, 4.00%, TBA | 250,000 | 237,832 | ||||||
GNMA, 4.50%, TBA | 1,050,000 | 1,020,366 | ||||||
GNMA, 5.50%, TBA | 800,000 | 799,562 | ||||||
UMBS, 2.00%, TBA | 300,000 | 269,227 | ||||||
UMBS, 2.00%, TBA | 150,000 | 134,426 | ||||||
UMBS, 3.00%, TBA | 900,000 | 799,014 | ||||||
UMBS, 3.00%, TBA | 400,000 | 377,133 | ||||||
UMBS, 3.00%, TBA | 300,000 | 283,107 | ||||||
UMBS, 3.00%, TBA | 300,000 | 266,619 | ||||||
UMBS, 4.00%, TBA | 800,000 | 755,875 | ||||||
UMBS, 4.00%, TBA | 400,000 | 388,788 | ||||||
UMBS, 4.00%, TBA | 350,000 | 330,914 | ||||||
UMBS, 4.50%, TBA | 800,000 | 774,922 | ||||||
UMBS, 4.50%, TBA | 350,000 | 345,037 | ||||||
UMBS, 4.50%, TBA | 350,000 | 339,192 | ||||||
UMBS, 4.50%, TBA | 150,000 | 147,932 | ||||||
UMBS, 5.50%, TBA | 200,000 | 199,891 | ||||||
TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Cost $8,282,818) | 8,230,212 | |||||||
U.S. GOVERNMENT AGENCY SECURITIES — 3.7% | ||||||||
Federal Farm Credit Banks Funding Corp., 3.30%, 8/15/24 | 77,000 | 75,526 | ||||||
Federal Farm Credit Banks Funding Corp., 4.75%, 2/21/25 | 100,000 | 100,153 | ||||||
FHLB, 3.625%, 2/28/24 | 50,000 | 49,333 | ||||||
FHLB, 5.42%, 3/6/24 | 100,000 | 99,701 | ||||||
FHLB, 3.25%, 11/16/28 | 100,000 | 97,120 |
FNMA, 2.625%, 9/6/24 | 200,000 | 194,679 | ||||||
FNMA, 0.375%, 8/25/25 | 25,000 | 22,869 | ||||||
FNMA, 7.125%, 1/15/30 | 150,000 | 178,830 | ||||||
FNMA, 6.625%, 11/15/30 | 125,000 | 147,121 | ||||||
FNMA, 5.625%, 7/15/37 | 200,000 | 233,057 | ||||||
Tennessee Valley Authority, 0.75%, 5/15/25 | 175,000 | 162,428 | ||||||
Tennessee Valley Authority, Series B, 4.70%, 7/15/33 | 100,000 | 103,689 | ||||||
Tennessee Valley Authority, 3.50%, 12/15/42 | 100,000 | 84,224 | ||||||
TOTAL U.S. GOVERNMENT AGENCY SECURITIES (Cost $1,582,816) | 1,548,730 | |||||||
SOVEREIGN GOVERNMENTS AND AGENCIES — 0.5% | ||||||||
Sweden — 0.5% | ||||||||
Svensk Exportkredit AB, 2.25%, 3/22/27 (Cost $188,641) | 200,000 | 186,674 | ||||||
SHORT-TERM INVESTMENTS — 12.6% | ||||||||
Money Market Funds — 1.5% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 229,501 | 229,501 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio(4) | 409,513 | 409,513 | ||||||
639,014 | ||||||||
Treasury Bills(5) — 11.1% | ||||||||
U.S. Treasury Bills, 4.86%, 6/8/23 | 200,000 | 199,796 | ||||||
U.S. Treasury Bills, 4.95%, 6/13/23 | 750,000 | 748,703 | ||||||
U.S. Treasury Bills, 4.94%, 6/20/23 | 250,000 | 249,325 | ||||||
U.S. Treasury Bills, 5.57%, 6/27/23 | 450,000 | 448,360 | ||||||
U.S. Treasury Bills, 4.78%, 6/29/23 | 675,000 | 672,352 | ||||||
U.S. Treasury Bills, 5.23%, 7/5/23 | 250,000 | 248,858 | ||||||
U.S. Treasury Bills, 4.86%, 7/11/23 | 1,300,000 | 1,292,807 | ||||||
U.S. Treasury Bills, 5.05%, 7/13/23 | 250,000 | 248,523 | ||||||
U.S. Treasury Bills, 5.26%, 8/3/23 | 500,000 | 495,508 | ||||||
4,604,232 | ||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $5,243,943) | 5,243,246 | |||||||
TOTAL INVESTMENT SECURITIES — 122.1% (Cost $52,779,064) | 50,849,774 | |||||||
OTHER ASSETS AND LIABILITIES — (22.1)% | (9,195,056) | |||||||
TOTAL NET ASSETS — 100.0% | $ | 41,654,718 |
FUTURES CONTRACTS PURCHASED | ||||||||||||||
Reference Entity | Contracts | Expiration Date | Notional Amount | Unrealized Appreciation (Depreciation)^ | ||||||||||
U.S. Treasury Long Bonds | 6 | September 2023 | $ | 770,063 | $ | 9,751 |
^Amount represents value and unrealized appreciation (depreciation).
CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS§ | |||||||||||||||||||||||
Reference Entity | Type‡ | Fixed Rate Received (Paid) Quarterly | Termination Date | Notional Amount | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Value^ | ||||||||||||||||
Markit CDX North America Investment Grade Index Series 38 | Sell | 1.00% | 6/20/27 | $ | 700,000 | $ | 5,261 | $ | 5,111 | $ | 10,372 |
§Credit default swap agreements enable the fund to buy/sell protection against a credit event of a specific issuer or index. As a seller of credit protection against a security or basket of securities, the fund receives an upfront and/or periodic payment to compensate against potential default events. The fund may attempt to enhance returns by selling protection.
‡The maximum potential amount the fund could be required to deliver as a seller of credit protection if a credit event occurs as defined under the terms of the agreement is the notional amount. The maximum potential amount may be partially offset by any recovery values of the referenced obligations and upfront payments received upon entering into the agreement.
^The value for credit default swap agreements serves as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability or profit at the period end. Increasing values in absolute terms when compared to the notional amount of the credit default swap agreement represent a deterioration of the referenced entity's credit soundness and an increased likelihood or risk of a credit event occurring as defined in the agreement.
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
AID | – | Agency for International Development | ||||||
CDX | – | Credit Derivatives Indexes | ||||||
Equivalent | – | Security whose payments are secured by the U.S. Treasury | ||||||
FHLB | – | Federal Home Loan Bank | ||||||
FNMA | – | Federal National Mortgage Association | ||||||
GNMA | – | Government National Mortgage Association | ||||||
TBA | – | To-Be-Announced. Security was purchased on a forward commitment basis with an approximate principal amount and maturity date. Actual principal amount and maturity date will be determined upon settlement. | ||||||
UMBS | – | Uniform Mortgage-Backed Securities |
(1)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $398,465. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(2)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $247,881, which represented 0.6% of total net assets.
(3)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward commitments, futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $290,575.
(4)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $409,513.
(5)The rate indicated is the yield to maturity at purchase for non-interest bearing securities. For interest bearing securities, the stated coupon rate is shown.
SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS
1. Investment Valuations
The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.
Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Corporate bonds, U.S. Treasury and Government Agency securities, and sovereign governments and agencies are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information. Mortgage-related securities are valued based on models that consider trade data, prepayment and default projections, benchmark yield and spread data and estimated cash flows of each tranche of the issuer.
Open-end management investment companies are valued at the reported NAV per share. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange. Swap agreements are valued at an evaluated mean as provided by independent pricing services or independent brokers.
If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause the fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.
The valuation designee monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region.
2. Fair Value Measurements
The fund's investment valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.
•Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.
•Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.
•Level 3 valuation inputs consist of unobservable data (including a fund’s own assumptions).
The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.
The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund's portfolio holdings.
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Corporate Bonds | — | $ | 25,251,835 | — | |||||||
U.S. Treasury Securities and Equivalents | — | 10,389,077 | — | ||||||||
U.S. Government Agency Mortgage-Backed Securities | — | 8,230,212 | — | ||||||||
U.S. Government Agency Securities | — | 1,548,730 | — | ||||||||
Sovereign Governments and Agencies | — | 186,674 | — | ||||||||
Short-Term Investments | $ | 639,014 | 4,604,232 | — | |||||||
$ | 639,014 | $ | 50,210,760 | — | |||||||
Other Financial Instruments | |||||||||||
Futures Contracts | $ | 9,751 | — | — | |||||||
Swap Agreements | — | $ | 10,372 | — | |||||||
$ | 9,751 | $ | 10,372 | — |
This schedule of investments provides information about the fund’s portfolio holdings as of the date on the schedule. It is unaudited, and American Century Investments assumes no obligation to update or supplement the schedule to reflect subsequent changes. More information is available in the fund’s most recent annual or semiannual shareholder report.